Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

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Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

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The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

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Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

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“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

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Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

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Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Sydney

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Sydney’s fast pace population growth is set to come to an abrupt halt. The recent closing of borders and after the restrictions that will follow the COVID-19 pandemic will stop most of it.
For the past half century demand for housing and the accompanying property price growth has been driven in part by population growth.
The latest government estimates suggest the key driver is going to fall sharply over the next year or so.
The disruption will show up in many ways.
Short term tourists have disappeared, but will return.
The weakness in short-term tourist arrivals will hit the domestic tourism industry, though will likely be offset in part by more Australians travelling at home when domestic travel restrictions are lifted in stage two.
Large numbers of temporary residents from overseas have departed, but only a trickle will return any time soon. Ditto temporary working visas.
The fall in numbers of international students on visas will likely not see a return to recent levels anytime over the coming year.
The downward pressure on rental price growth that landlords have seen in recent weeks will likely be extended unless Australia’s sustained comparative advantage as an education and tourism destination returns quickly.
The Government estimates long-term migration arrivals could fall by around 300,000 over the next 18 months, with a drop of 72,000 in the first half of this calendar year and another 204,000 in the 2020/21 financial year.
According to UBS Australia's population growth is forecast to slow to just 0.5 percent in 2020.
This is the slowest pace since 1916, according to economists.
The recent average has been between 1.5 percent to 2 percent per year.
Scott Haslem at Cretonne Wealth Management says at the positive end a temporary pullback in migration flows could provide some time for infrastructure works to "catch up" over the next 18 months.
But for residential housing, the weakness in migration is a significant headwind.
UBS estimates there will be a fall in underlying annual housing demand from around 200,000 to only around 130,000 in the near term - before recovering towards 190,000 by the end of 2022.
This drop in dwelling commencements will mean fewer tradies in work which spells wider problems for the economy.
Construction has continued during the shutdown so employment has not yet been impacted like many other industries.
Lower population growth, from fewer arrivals from overseas, will be accompanied by an emerging drop in the nation's fertility rate currently averaging 1.7 children per couple.
Births falling by 2 per cent to 91,376 in NSW last year.
We are set to enter an ongoing debate especially on the role of temporary migration.
Temporary migration is certain to look different over the next few years than it has over past few. 
That’s its purpose – to adapt to changing circumstances, Monash academic Gabriela D'Souza recently noted.
But the Investec fund manager Graeme Katz recently warned pushing back against immigration as a “seriously short sighted view”.
“Our country needs to send a signal that we’re open for people, we’re open for capital, and we’re open for business, and provide the productive environment for job creation and growth,” he said.
“Only growth will provide the environment for job security, which in turn creates a confidence of consumers to spend and the multiplier flow on ... will provide a tax base to support a well-balanced economy and society,” he said.
This article first appeared in The Daily Telegraph
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jchancellor-FAypfDUnLy

Sydney's population growth set for abrupt Covid-19 induced halt

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Nearly six in 10 experts in Finder.com.au's RBA Cash Rate Survey say now is not a good time to buy property.
Experts and economists have predicted nationwide price falls, with Sydney and Hobart being the hardest hit, both declining over 10 per cent.
Darwin and Melbourne will both see over nine per cent declines, while over eight per cent drops will be felt in Brisbane, Perth and Adelaide.
Canberra is predicted to weather the storm the most, with 6.4 per cent declines forecast.
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Graham Cooke, insights manager at Finder, said with increasing unemployment and growing economic uncertainty house prices will slide over the rest of the year. 
“Both househunter and seller demand has weakened in the last month as Australians hunker down to help stop the spread of coronavirus," Cooke said.
“It’s not just experts, we’ve also seen consumer sentiment about whether it is a ‘good time to buy’ drop from a peak of 60% in July 2019 to just 42% in April."
Unemployment is a key reasons for the envisaged price falls.
John Rolfe, head of Elders Home Loans expects unemployment to go as high as 18%. Noel Whittaker, executive in residence and adjunct professor at QUT Business School said the full impact of COVID-19 is yet to be understood. “This recession will be far worse than the government imagines...they can't close down so many businesses and not expect a severe hangover.  “As for real estate, it's never a bad time to buy a bargain,” Whittaker said. 
Susan Mitchell at Mortgage Choice said social distancing measures had "knocked the wind out of the sails of the property market."
"Time will tell if this will translate to declining dwelling values," she said.
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jrobinson-rf4aSBido9

Sydney and Hobart prices to drop over 10 percent by 2021: Finder

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The prestige market, generally considered to be above $5 million in Sydney, has tended to move differently to the wider market, according to the latest Herron Todd White (HTW) residential report. 
The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.
"As the wider market bounced back quickly after the GFC on the back of low interest rates and government incentives for first home owners, the prestige market saw significant price declines as share markets and executive bonuses were hit hard.
"On the flip side, the prestige market was generally immune to the recent wider market decline between mid-2017 and mid-2019, with buyers in the prestige market not as susceptible to the tighter lending policies which led to the downturn," the valuation firm said. 
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Given the GFC experience, there must now be some concern for the prestige market around the current COVID-19 pandemic and its effect on share markets and both local and world economies.
"Prestige agents however are currently observing significant demand in the prestige space, particularly at the lower end, in the $5 to $7 million bracket," the valuation firm said. 
The HTW notes that an example of this demand is a property at <a href="https://www.realestate.com.au/property/466-bronte-rd-bronte-nsw-2024" target="_blank">466 Bronte Road, Bronte</a> (pictured below) which sold through Phillips Pantzer Donnelley just five days into its auction campaign.
 The renovated, three level, semi-detached home on 536 square metres of land sold in early March for $5.48 million.
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The selling agent advised that this was a common experience in this price range, with a large proportion of similarly priced homes not even making it to listing, as agents match unsuccessful purchasers to potential sellers of other properties.
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Another example of the current buoyancy in the prestige market is the recent sale of 8/41-43 Middle Head Road, Mosman, the report added. 
The property reportedly sold for $6.9 million in the middle of February and was only on the market for 22 days (source: RP Data). 
This property last transacted on 3 March 2018 for $5.675 million with no obvious improvements made between sales.
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"The Sydney property market is considered to be a safe market to invest in compared to others around the world and with the Australian dollar falling significantly over the past month, interest from overseas purchasers and ex-pats is also likely to strengthen.
"Whilst there may be a softening of market conditions over the coming months as the number of COVID-19 cases in Australia increases and (hopefully) peaks, there are no current signs to suggest that there will be any long term downturn for the prestige market." 
Note regards COVID-19
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This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
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j.ballantyne1990-6AQqhLzZaK

No current signs suggesting long term downturn for Sydney prestige market: HTW residential 

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The past five years have provided good evidence of the factors that drive the Sydney property market, according to the latest Herron Todd White (HTW) residential report.
The valuation firm took a look at what things traditionally matter to property markets and how current crisis is playing into decision making.
The report suggests fiscal, regulatory and monetary policies have all played their parts as the wider Sydney market went from strong growth to its largest decline in three decades before rebounding so quickly that the Sydney median price is already knocking on the door of the previous peak.
"Whilst traditional drivers such as employment levels and the national economic outlook do play a part, these have been fairly stable throughout that five year period as the market fluctuated wildly (in Sydney property price terms anyway).
"The current COVID-19 epidemic is going to have a negative impact on both of these drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term," the valuation firm said.
Low interest rates were a big driver in the market climbing until mid-2017, despite growing affordability issues as many first home buyers were either priced out of the market or had to reconsider the type of property or the suburb they could afford to buy.
"We then experienced tighter lending policies as a result of APRA regulation and the banking Royal Commission which saw the market drop by around 15 percent across Sydney, with some areas dropping by more than 20 percent," the valuation firm said.
Houses were harder hit than units, while the top quartile, excluding the prestige end, experienced the largest falls.
There was a triple boost to the property market in mid-2019, as APRA weakened lending restrictions, the Reserve Bank lowered interest rates three times within a few months and the Coalition government was returned in the federal election.
The report notes the unexpected election result meant that the planned changes to capital gains tax and negative gearing policy proposed by the Labor opposition, would not eventuate.
These three factors saw the Sydney market stabilise between June and August and then rise quickly between September and December, recovering around two-thirds of the median price decline experienced during the downturn. Houses and those areas that saw larger decreases during the decline were generally those that rebounded the quickest.
First home owner incentives introduced in January have also seen these buyers re-enter the market in greater numbers, providing a boost to the lower quartile of the property market.
This was also the experience during the aftermath of the Global Financial Crisis as low interest rates and significant first home owner incentives saw this part of the market grow quickly at a time when the wider economy was struggling.
"The unit market in Sydney has had some additional challenges to deal with over the past couple of years. Whilst prices did not decline as fast as they did for houses, issues around flammable cladding and the highly publicised structural issues of several buildings throughout Sydney have meant increased buyer caution in the new unit market," the valuation firm said.
Certain suburbs also had a large supply of new units reaching settlement at the bottom of the market after being purchased off the plan at the height of the market.
More recently, the supply of new units has slowed and remaining developer stock in completed buildings is now more readily selling, in some cases at prices close to what they were achieving off the plan.
It should be noted though that some developers are resorting to incentives or rebates to clear this stock.
Infrastructure spending has also increased in Sydney over the past few years with a number of large projects still underway or planned for completion by the end of the decade. This has helped fuel the local economy and provide a boost to those suburbs which directly benefit from these infrastructure upgrades.
"Although clearance rates have remained high in recent weeks, there is no doubt that the COVID-19 outbreak will lead to a short term softening in market activity," the valuation firm said.
According to CoreLogic, there were 749 auctions in the wider Sydney region for the week ending 15 March, down 28 percent from the 1045 auctions held in the week ending 1 March. They also reported that the preliminary auction clearance rate has dropped from 82.6 percent to 74.6 percent over the past two weeks.
"Despite this, median prices have continued to increase throughout this period.
"It is likely that potential sellers will hold off listing their properties in the next few months as Australia goes through an increase and (hopefully) peak in COVID-19 cases. This lack of new stock on the market will likely help hold up property prices," the valuation firm said.
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Sydney median prices continue to increase in the time of coronavirus crisis: HTW residential 

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The Bathla Group has expanded its operations with the lease of a second premises in Sydney’s west.
The western Sydney’s construction companies has taken a three-year lease on 3 Augusta Street, Blacktown, for a gross rent of $300,000, plus GST.
The agreement on the 4,500 sqm site includes an additional three-year option, to accompany the existing base it owns in the nearby Girraween.
A 2,000 sqm, freestanding building with access via three rollers doors is complemented by an expansive yard and easy access to the Great Western Highway, M7 and M4.
CBRE’s Matthew Alessi and Brendan Wein managed the campaign with James Reeves from Knight Frank.
“Bathla Group desperately needed additional space, having outgrown their existing facility,” Mr Alessi said.
“This site suited them due to the large hardstand area, proximity to their current Girraween base and the quick availability of the property.” 
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Bathla Group leases new Blacktown site

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Dior has lodged its final plans for refurbishment at prominent historic site in Sydney's CBD.
A Sydney Dior store's <a href="https://cdn.online.cityofsydney.nsw.gov.au/dasearch/onexhibition/1464238-12050077.PDF" target="_blank">final plans for renovation</a> was lodged by senior heritage architect of Curio Projects, Susanne Magers, and director of Curio Projects, Natalie Vinton, to the City of Sydney Council on January 24, 2020. 
The Castlereagh Street and King Street property projected a total of $9,977,277 for its refurbishment with Curio Projects.
"The site is located in the vicinity of a number of local and state heritage listed buildings," reports Curio Projects. Consequently, Christian Dior Australia had commissioned Curio Projects to prepare its Heritage Impact Statement in support of its Development Application to the council for permission to make internal aesthetics and structural changes. 
The 153 King Street block has a diverse history and has undergone many extensive changes.
Consequently, Curio Projects has expressed Dior's intentions of preserving its historic value.
In 1858, the then single-storey block was called the Carrier's Arms, which was then replaced by another hotel, named the Colonnade Hotel.
Around 1861 and by the 1870s, it was one of 13 hotels located within a 50-yard radius, making it the densest concentration of hotels in the CBD area. 
In 1880, a three-storey hotel off the same name was constructed by rapidly underwent several changes. 
By 1896, Surrey Hotel took over, licensed under Frank Underwood, and remained for the next 80 years. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/7_DIOR.jpg" alt="">
Source: <a href="https://cdn.online.cityofsydney.nsw.gov.au/dasearch/onexhibition/1464238-12041150.PDF" target="_blank">Curio Projects 2019, Heritage Impact Statement Dior Building prepared for Christian Dior Australia</a>
The Surrey Hotel was architecturally impacted with the construction of the Culwulla Chambers.
The owners of the Surrey Hotel's refusal to sell their property for the development of the Culwulla Chambers, resulted in the unusual shape of the building. 
According to a 1912 Daily Telegraph report, the owners "regretted the ugly corner". 
By 1928, Tooth &amp; Co owned the Surrey Hotel, who commissioned the architectural firm, Prevost, Synnot &amp; Ruwald to remodel the hotel to its present façade. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/7_Dior%20Stunted%20Growth.jpg" alt="" width="338" height="374">
Source: <a href="https://cdn.online.cityofsydney.nsw.gov.au/dasearch/onexhibition/1464238-12041150.PDF" target="_blank">Curio Projects 2019, Heritage Impact Statement Dior Building prepared for Christian Dior Australia</a>
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The State Heritage Register listing for the ‘Former Surrey Hotel including interiors’ has provided a Statement of Significance since 2012. It states: 
"Christian Dior, formerly the Surrey Hotel, is a four-storey building of Interwar Free Classical Style, located on a prominent corner block. The building has historic significance as an important building in the professional work of the noted architect Provost, for the lengthy tradition of hotel trade on this site since 1860's, and for its ability to reflect the development of King Street as a major city cross street. It has high aesthetic significance as a rare and outstanding example of a highly intact terracotta clad exterior with outstanding potential to continue in its restored state. It has social significance for its role as part of a network of purpose- built hotels which provided both a social and recreational venue, and budget accommodation in the city. It has high scientific significance for its early use of a terracotta clad exterior."
 
 
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Dior lodges $9.9 million proposal for refurbishment in Sydney

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Auction clearance rates strong with Sydney's housing boom spreading: REA's Nerida Conisbee

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In general terms, the Sydney industrial property market performed strongly in 2019 and it will be the most exciting market to watch in 2020, according to the February report from valuation firm Herron Todd White.
The property valuation firm found a notable increase in demand in Sydney’s industrial market over 2019 with tenants and owner-occupiers alike experiencing difficulty finding well located, good quality industrial space, a trend we expect to continue in 2020.
Demand continues to be driven by lack of supply that has been influenced by residential infill re-zonings in traditional industrial precincts close to the Sydney CBD, airport and ports.
The increase in demand for imported goods and the need for transport and logistics centres have also contributed to the strong increase in demand for warehousing space. As a result, well-located industrial precincts with good connectivity to major transport routes and ease of access to regional business centres including Liverpool, Campbelltown, Parramatta, Blacktown and Penrith will continue to perform well this year.
Such precincts include Wetherill Park, Silverwater, Bankstown and Moorebank, all of which are well placed for access to key transport routes.
HTW valuers said, "we saw yield compression across most industrial precincts in 2019 and we expect this to stabilise somewhat in 2020 with most areas showing relatively low yield rates, currently generally sitting between 4% and 7%."
"We expect that in some areas it is possible that these yields will continue to tighten, but more generally we are expecting stability."
"Average rents across most industrial markets in Sydney grew in 2019, particularly in well located precincts that offer ease of access, transport or proximity to the CBD and ports. We expect that this upward trend will continue in 2020.
"A continued lack of land supply will see premiums paid for vacant land and under improved sites. in some areas we have noted the return of developers undertaking industrial developments and some smaller unit developments being undertaken by local land owners."
They said they will be closely watching the Western Sydney Aerotropolis.
HTW forecast that 2020 will provide some great opportunities in the market, however the challenge will be supply, which may make finding the right property difficult.
Investors looking for returns will struggle at the lower end of the market, however some opportunity for returns and longer-term growth exist at the higher end of the market (say above $5 million), they concluded.
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Sydney industrial market driven by lacking supply: HTW Industrial

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The start of 2020 has been tragic with catastrophic bushfires across the country and New South Wales being particularly hard hit, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their values to give an educated outlook on the residential market in their service areas in February.
 "Time will tell how this will play out both economically and politically for the remainder of the year and what impacts this may have on the wider property market," the valuation firm said. 
After the start of the recovery from the middle of the year, 2019 enjoyed a 5.3 percent increase in Sydney dwelling values over the year.
The last quarter of 2019 ended with a bang as Sydney property prices jumped 6.2 percent in the last quarter alone, with prices now only 6.4 percent below the 2017 peak (CoreLogic).
"We believe this jump was mostly due to an increase in demand after the elections and interest rate cuts, while new listing levels remained fairly subdued in comparison to prior years," the valuation firm stated.
<a href="https://www.propertyobserver.com.au/images/2020/2/10/sydney%201.jpg" target="_blank">Click here</a> to enlarge:
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Breaking down the numbers further, the top quartile of property prices saw the quickest recovery in prices in 2019 with a seven percent increase, compared to the bottom quartile only experiencing a 1.4 percent increase (CoreLogic).
The report suggests houses (6.1 percent increase) also performed better than units (3.4 percent increase) across 2019 according to CoreLogic.
This is not surprising since houses fell at a quicker rate during the downturn and unit prices are still being affected by an oversupply of new units in some areas.
Sydney also had seven of the top 10 performing metro sub-regions across the country, with the inner west and Baulkham Hills and Hawkesbury sub-regions both experiencing 8.8 percent increases over the year (CoreLogic).
<a href="https://www.propertyobserver.com.au/images/2020/2/10/sydney%202.jpg" target="_blank">Click here </a>to enlarge:
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"Overall, we expect new listings to increase in the first half of 2020 which should see price growth begin to moderate. Despite this we still expect to see prices increase by around 10 percent for the year, which will mean prices should move above the previous peak in the second half of the year.
"We expect prices to be fairly strong across most regions and sub-sectors however we expect the lower quartile to begin to improve at a quicker pace while new units in over- supplied suburbs may remain weaker for the first half of the year."
A number of infrastructure developments have recently opened, or will open in 2020, which will continue to strengthen prices in the suburbs benefiting from these links.
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Sydney market expected to see moderate price growth in 2020: HTW residential Clock

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Capital city auctions saw a national clearance rate of 77 per cent as 2,446 homes went under the hammer. 
Sydney recorded the highest clearance rate with 81 per cent of listings finding buyers, with Melbourne closely behind at 79 per cent. 
Both major market improved their success rates on higher volumes, CoreLogic auction analyst Kevin Brogan noted.
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One year ago, Sydney 801 auctions were held and the clearance rate came in at 50.2 per cent.
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Once again, Melbourne was the busiest auction market with a total of 1,215 auctions , according to CoreLogic. Sydney was the second busiest with 938.
Of the 557 Sydney results captured, 454 homes sold.
A Surry Hills terrace with a colourful brothel past soared $440,000 above reserve selling for $2.87 million at its weekend auction.
It was the first sale in more than 100 years of the three-bedroom Victorian terrace.
It was a suspected former brothel during the Great Depression with links to the infamous madam Tilly Devine.
The Surry Hills terrace attracted 17 registered bidders for the <a href="https://www.domain.com.au/448a-bourke-street-surry-hills-nsw-2010-2016025975">448A Bourke Street</a> premises.
Bidding started at $2.3 million and quickly passing the $2.43 million reserve for the 125-square-metre block.
It sold to the family of wealthy rag trader Michael Gazal.
It was held by the same family for four generations.
The terrace was transferred last for £30 in 1916.
Elizabeth “Granny” Lynn, the vendors great grandmother had been friends with Tilly Devine, hence the reputed association.
<img src="https://www.urban.com.au/images/2020/2/CoreLogic_FEB22.png" alt="">
Sydney had the most expensive sale among the capitals when <a href="https://www.simeonpartners.com.au/AB1P0839/15-stanley-avenue-mosman" target="_blank">15 Stanley Avenue, Mosman</a> sold through Simeon Partners for $8,460,000. 
The four-bedroom, three-bathroom early 1980s home had a price guide of $6.5 million.
However, after 21 contracts were issued, and 11 registrations, the selling agent Richard Simeon advised there was "one delighted vendor." 
The Mosman Daily reported there were 65 bids lodged during the 30 minute auction.
The residence situated on 600 sqm was offered to the market for the first time in some 37 years. 
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Sydney's most affordable auction was a two-bedroom, one-bathroom apartment at <a href="https://www.propertyobserver.com.au/https://auburn.randw.com.au/property/0000427274" target="_blank">10/118 Woodbury Road, Berala</a>.<a href="https://www.realestate.com.au/property/unit-8-118-woodburn-rd-berala-nsw-2141" target="_blank"></a><a href="https://www.realestate.com.au/property/unit-8-118-woodburn-rd-berala-nsw-2141" target="_blank"></a>
Built in 1969, the unit fetched $387,000 through R&amp;W. It had last sold at $29,950 in 1979.
Housing commentator Dr Andrew Wilson at My Housing Market noted the Sydney auction market had recorded "the highest for the year so far despite another surge in listings."
Sydney's Northern Beaches secured the highest clearance rate among all sub-regions.
It saw a clearance rate of 95 per cent from 100 auctions, reports CoreLogic.
The Hotspotting housing commentator <a href="https://www.propertyobserver.com.au/terry-ryder/110306-northern-beaches-rising-buyer-demand-drives-greater-sydney-to-strongest-sydney-market-hotspotting-s-terry-ryder" target="_blank">Terry Ryder recently suggested</a> among Sydney sub-regions "the leading market is the Northern Beaches."
In Melbourne, of the 970 weekend auction results captured, 772 homes were sold.
The highest residential sale reported in Melbourne was at <a href="https://www.realestate.com.au/property-house-vic-parkville-132827938" target="_blank">69 Fitzgibbon Street, Parkville</a> when the five bedroom Postmaster's residence sold through Woodards for $4,040,000.
Its price guide had been between $3.6 million and $3.9 million given it currently returns $72,000 from the retail and residential components.
The post office lessee is open to staying on at a current annual rental of around $31,000.
It last sold 23 year ago.
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Built in 1889, the 510 sqm residence features a grand arched hallway and staircase which transitions through to the north-facing lounge area. 
The property has a spacious rear yard accessible via the Post Office Lane. 
The post office at the front of the building is currently leased on a monthly basis by Australia Post.
There was a higher undisclosed sale in Kooyong when three bidders took the top offer for <a href="https://kayburton.com.au/real-estate/house-3-st-martins-close-kooyong-vic-3144-1425126" target="_blank">3 St Martins Close</a> to $5,561,000. It was sold after auction at an undisclosed price.
The Steve Domoney Architecture designed home set in Jack Merlo gardens was a four bedroom, five bathroom home with a study set on a 600 sqm block.
The price guidance had been $5.5 million to $5.9 million.
Melbourne's cheapest auction sale was a beachside apartment at <a href="https://www.hodges.com.au/property/875044/11-62-72-bay-road-sandringham/" target="_blank">11/62-72 Bay Road, Sandringham</a>.
It was the nation's cheapest capital city result.
The one-bedroom, one-bathroom apartment sold two days prior to auction through Hodges Real Estate for $275,000.
The price guide had been $270,000 to $297,000.
Last advertised as a $310 a week rental in 2016, it sold in 2009 at $355,900.
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Across the smaller auction markets, Canberra recorded the highest preliminary clearance rate of 70 per cent, followed by Brisbane at 62.7 per cent. 
Brisbane's most expensive auction, according to Domain, was the Queenslander at <a href="https://www.belleproperty.com/listings/874529/50-groom-street-gordon-park-qld-4031/" target="_blank">50 Groom Street, Gordon Park</a>.
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The four-bedroom, three-bathroom home was sold through Belle Property for $1,950,000
It sat on a 1,214 sqm parcel of land with solar heated pool. 
Meanwhile Domain reported Brisbane's most affordable auction was a two-bedroom, two-bathroom apartment at <a href="https://aspley.ljhooker.com.au/unit-in-chermside-qld-4032-au-1wdsf1r#.XlHySS2B3eQ" target="_blank">11/23 Playfield Street, Chermside</a>. 
The 306 sqm unit sold through LJ Hooker for $345,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/BRIS3_FEB22.jpg" alt="">
The third-floor apartment in the HQ complex sold at a loss given its last sale in 2008 for $445,000.
It had been a $400 a week rental offering in 2018.
 
 
 
 
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